Kim, Dongcheol; Palia, Darius; Saunders, Anthony - In: Journal of Financial and Quantitative Analysis 43 (2008) 04, pp. 975-1000
This paper examines the effect of commercial bank entry on underwriting spreads for IPOs, SEOs, and debt issues using a long time series that spans 30 years, from 1975 to 2004. We find that, on average, commercial banks charge lower spreads of approximately 72 basis points for IPOs, 43 basis...
